Impact of Globalisation On Indian Economy

The invasion of multinational companies is a great challenge to the Indian entrepreneur. He is in a fix. He has praised the government policy. By liberalizing different spheres the government would lose its hold over the public sector. If this loss making nationalized sector loses its importance it will fall like the house of cards. The Indian industrialist is trying to seek an opportunity. As soon as the government is obliged to dispose of the assets of nationalized concerns Indian Companies would like to purchase them. The industrialist may be allowed to start their own concerns in competition with the nationalized ones. It has already been done in the supply of LPG in certain areas. It is our duty, as Indians to back these Indian enterprises so that the MNCs may not have a hold over our economy.

It is rather unfortunate that the Indian producer in the Cottage industry sector is losing ground. Under the liberalization policy the government has allowed the Multi-national companies to start their production or business. Now they are allowed to have 100% investment. They do not require the Indian investment. It means the whole profit goes to them. The MNCs have identified the areas in which they can have immediate profits. Quick food, cold drinks and ground species have been chosen by some of them. One can find all these in the market. These are the things that are manufactured in the cottage industries sector. These small manufacturers cannot compete with the big foreign concerns. It may result in the monopoly of the MNCs in these consumer goods. It is our duty to purchase the consumer goods manufactured at the local level. As Indians we should give preference to things made in India.

When the Britishers came to India they sought the permission of Indian rulers to start their business in India. In due course of time they monopolized all trade and business under East India Company. They went a step further and ruled India for more than two centuries. History is repeating. Now a number of countries are trying to control the industrial, agricultural and financial spheres. If we allow them a free hand they will have their small economic empires in this country. Indians will be reduced to the state of second rate citizens in their own country. We should be careful about it and should not give free hand to them.

The foreigners, together with their business, bring their cultural influence too. They advertise their goods with pornographic models. An attraction to these is quite natural. The government is not able to check them. Some of the employees of these industries deal in drug trafficking as well. They also manufacture English wines. More breweries are going to be started. It is rather a great attack on Indian culture. It results in the exploitation of women on a larger scale as they shown as models in advertisements in half naked poses. By giving preference to foreign manufactured goods we spoil our industries, our freedom and our culture too. To be a good Indian we should buy Indian goods.